SPS (South) Ltd - Filleted accounts

Registered number

08954192

SPS (South) Ltd

Filleted Accounts

31 March 2026

SPS (South) Ltd
Registered number:		08954192
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		199,565			129,482

Current assets
Stocks		365,967			132,900
Debtors	4	329,927			161,339
Cash at bank and in hand		362,335			665,810
		1,058,229			960,049

Creditors: amounts falling due within one year	5	(281,817)			(262,939)

Net current assets			776,412			697,110

Total assets less current liabilities			975,977			826,592

Creditors: amounts falling due after more than one year	6		-			(7,542)

Provisions for liabilities			(49,891)			(24,602)


Net assets			926,086			794,448

Capital and reserves
Called up share capital			200			200
Profit and loss account			925,886			794,248

Shareholders' funds			926,086			794,448

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



C A Millard
Director
Approved by the board on 13 May 2026

SPS (South) Ltd
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance basis
	Fixtures, fittings, tools and equipment	25% reducing balance basis
	Motor Vehicles	25% reducing balance basis

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			10		8


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2025	14,693		141,380		156,073
	Additions	983		168,650		169,633
	Disposals	-		(58,500)		(58,500)
	At 31 March 2026	15,676		251,530		267,206

	Depreciation
	At 1 April 2025	6,795		19,796		26,591
	Charge for the year	2,220		48,580		50,800
	On disposals	-		(9,750)		(9,750)
	At 31 March 2026	9,015		58,626		67,641

	Net book value
	At 31 March 2026	6,661		192,904		199,565
	At 31 March 2025	7,898		121,584		129,482


4	Debtors			2026		2025
£					£

	Trade debtors			260,225		142,598
	Other debtors			69,702		18,741
				329,927		161,339


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Bank loans and overdrafts			7,597		10,177
	Trade creditors			123,837		138,298
	Taxation and social security costs			145,740		109,921
	Other creditors			4,643		4,543
				281,817		262,939


6	Creditors: amounts falling due after one year			2026		2025
£					£

	Bank loans			-		7,542


7	Other information

	SPS (South) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	River Bank House
	65A Bishopstoke Road
	Eastleigh
	Hampshire
	SO50 6BF